HIGHBuilt-inProduct / Revenue mix
65%
e-commerce sales
“10-K Item 1A: 'Approximately 65% of our net revenues were generated by e-commerce sales in fiscal 2025'”
WSM · Concentration risk · 10-K extracted
Williams-Sonoma (WSM) concentration risks
Updated
The most significant concentration Williams-Sonoma discloses is e-commerce sales at 65%, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Source: Williams-Sonoma’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 2 disclosed concentrations
HIGH1
MEDIUM0
LOW1
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
LOWOutside partySupplier
China
“10-K Item 1: 'merchandise purchases were sourced from foreign suppliers, with approximately 19% from China'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-06-24The company's concentration profile is led by a high-share channel tilt toward e-commerce: approximately 65% of net revenues were generated by e-commerce sales in fiscal 2025 — a large, structural concentration by disclosed size. This reflects a deliberate business model evolution away from physical retail toward digital channels, and the character is structural in that the company's operations, logistics, and customer acquisition are organized around that mix. The heavy digital weighting creates exposure to changes in consumer online shopping behavior, digital marketing costs, and delivery economics, but it also reduces fixed store overhead. On the supply side, merchandise purchases were sourced from foreign suppliers, with China representing a small, low-share supplier dependency by disclosed size. The filing's characterization implies that Chinese sourcing is a modest component of the total sourcing mix rather than a dominant input, limiting direct tariff and geopolitical supply chain exposure compared to retailers with heavier China concentration. The character is a dependency in that alternative sourcing relationships would take time to develop, but the low disclosed share limits the immediate magnitude of any disruption. The two exposures are not compounding: one is a channel-mix risk on the revenue side, the other a supply geography risk on the cost side. On balance, the e-commerce concentration is the dominant structural variable to monitor, particularly as it relates to customer acquisition costs, digital advertising platform dependencies, and the competitive intensity of online home-furnishings retail.
For the engine’s reasoning on WSM’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Specialty Retail
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| CASY | Caseys General Stores, Inc. | 1 | 1 | 1 | 3 |
| BOBS | Bob's Discount Furniture, Inc. | 1 | 1 | 0 | 2 |
| WSM● | Williams-Sonoma, Inc. | 1 | 0 | 1 | 2 |
| BBWI | Bath & Body Works, Inc. | 0 | 3 | 1 | 4 |
| ASO | Academy Sports and Outdoors, In | 0 | 1 | 0 | 1 |
| BBY | Best Buy Co., Inc. | 0 | 0 | 0 | 0 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.